Quote of the Day
"What we call a “mania” is just shorthand for saying that a lot of people – and machines – made the same bet, as happened in January when day traders – many of them inexperienced – drove up the price of GameStop. Maybe they were all acting rationally and in concert. Maybe they were duped by insiders or weren’t fully calculating those risks."
(Gayle Rogers)
Markets
- The decline of March 2020 is already fading from investors' memories (wsj.com)
- Q1 earnings are coming in better than expected. (axios.com)
Berkshire Hathaway
- Berkshire Hathaway's ($BRK.A) outperformance relative to the market has been declining for a long time. (evidenceinvestor.com)
- Berkshire Hathaway ($BRK.A) is pushing back against a climate shareholder proposal. (nytimes.com)
Companies
- Big Tech is hitting on all cylinders. (nytimes.com)
- Amazon ($AMZN) Prime Video streaming hours are up more than 70% year over year. (variety.com)
- YouTube will generate nearly as much revenue as Netflix ($NFLX) in 2021. (cnbc.com)
- Founder control of a company no longer comes along with a discount. (axios.com)
Food
- Why mushrooms seem to be everywhere these days. (nytimes.com)
- Why the U.S. has a shortage of chicken wings. (washingtonpost.com)
- Why fish sticks never made sense. (theatlantic.com)
Economy
- What app usage is saying about the economic recovery. (wsj.com)
- Wondering what's happening with wages? Keep an eye on Amazon ($AMZN). (bloomberg.com)
- How much have inflation expectations really risen? (mrzepczynski.blogspot.com)
- There's no sign of a let-up in chip shortages. (wsj.com)
Earlier on Abnormal Returns
- Podcast links: richer and wiser. (abnormalreturns.com)
- The future is promised to no company. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: family downward mobility. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
